BSE-listed Ricoh India plans to grow triple its revenues by 2017, fuelled by recent government orders.
The subsidiary of Japanese technology giant, which has revenues of $18.5 billion, expects to clock revenues of ₹4,000 crore, from ₹1,200 crore in December last year. “Going forward, we see strong demand for our products and services,” said Manoj Kumar, Managing Director, Ricoh India.
To fuel this growth, Ricoh India plans to expand its partner base from 3,000 to 5,000 across the country. The company recently has bagged some deals in the Indian government segment, which involves digitising around 1.2 lakh post offices in the country.
It has bagged two other deals with involve, a ₹40-crore deal from the Tamil Nadu Health Department to modernise 169 healthcare centres by providing IT networking equipment, cabling, hardware and trained manpower to support this infrastructure.
Another deal which the company says is worth ₹68 crore involves supplying and installing IT infrastructure in 1,000 branches of Vijaya Bank.
The company also is looking to get a higher service revenue mix as hardware is increasingly getting commoditised and does not bring in sustained revenue growth. “We entered the IT services segment in 2010 and the acquisition of Noida-based company, Momentum Infocare Pvt Ltd strengthened our foot-hold in the IT services business ,” said Kumar.
He added that IT service is one of its key growth engines that contributed to 45 per cent to our total revenues. “In the coming years, we would like to increase its contribution to 60 per cent,” he added.